Global aviation on brink: Hormuz blockade threatens mass flight cancellations by May

The closure of the Strait of Hormuz amid the US-Israel war against Iran is triggering a growing jet fuel crisis, raising fears of widespread disruption across global aviation.

A critical artery of the global energy system, the strait normally handles around 20% of the world’s oil supply. Its blockade is now sending shockwaves through supply chains, with Asia and Europe facing the most immediate risks due to their heavy reliance on Middle Eastern fuel flows, News.Az reports, citing Al Jazeera.

While the European Commission says there is currently no evidence of fuel exhaustion, spokesperson Anna-Kaisa Itkonen acknowledged that supply disruptions are inevitable and expected to intensify in the coming weeks.

Analysts at Rystad Energy and the International Energy Agency warn that flight cancellations could begin as early as May, as the market struggles to cope with tightening supply.

In its latest monthly oil market report, the International Energy Agency cautioned that if Europe fails to secure more than 50% of its lost Middle Eastern volumes, jet fuel stocks could drop to a critical threshold of just 23 days by June.

The OECD Europe region — which includes EU member states, as well as the UK and Norway — imports more than 30% of its jet fuel, much of it transported through the Strait of Hormuz, according to IEA data.

News.Az 

By Aysel Mammadzada